All players share the same inventory slots. Changes made by one player instantly affect everyone
All players share the exact same inventory. Changes made by one player instantly affect everyone's inventory.
This also includes your hunger bar — it is shared as well.
When "keepInventory" is turned off, if Player A dies and drops all their items, the inventories of all other players (B, C, D) will also be emptied — because you're all sharing the same backpack.